The table below shows the values for several different components of GDP. Billions of Dollars $ 250 3 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Consumption of fixed capital (depreciation) Statistical discrepancy Social Security contributions Interest Proprietor's income Net exports Dividends Compensation of employees Taxes on production and imports Undistributed corporate profits Personal taxes Corporate income taxes Corporate profits Government purchases Net private domestic investment Personal saving Imports Instructions: Enter your answers as whole number. a. What is the value of exports? $ b. What is the value of national income? $ 23 billion $ billion c. What is the GDP? billion d. What is the value of personal income? billion 10 15 25 12 18 12 31 10 14 228 16 19 24 17 50 70 31 18 13

The table below shows the values for several different components of GDP. Billions of Dollars $ 250 3 Category Personal consumption expenditures Net foreign factor income Transfer payments Rents Consumption of fixed capital (depreciation) Statistical discrepancy Social Security contributions Interest Proprietor's income Net exports Dividends Compensation of employees Taxes on production and imports Undistributed corporate profits Personal taxes Corporate income taxes Corporate profits Government purchases Net private domestic investment Personal saving Imports Instructions: Enter your answers as whole number. a. What is the value of exports? $ b. What is the value of national income? $ 23 billion $ billion c. What is the GDP? billion d. What is the value of personal income? billion 10 15 25 12 18 12 31 10 14 228 16 19 24 17 50 70 31 18 13

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Macmillan Learning Consider the table of GDP and population for several imaginary countries. $ Country Wrigleyville Longhornland Dinkytown GDP in millions of U.S. dollars Population in millions GDP per capita in U.S. dollars 297.0 175 207.00 $ 601.0 2873 Using this information, please answer the questions. If there is not enough information to answer a question, please enter -11. A. What is the GDP per capita of Longhornland in U.S. dollars? Express your answer rounded to one decimal place. 1.100 B. What is the GDP of Dinkytown in millions of U.S. dollars? Express your answer rounded to one decimal place.
Using the table below, calculate the indicated values. Sector Consumption Investment Government spending Net exports Population Value (millions) $770,000 $165,000 $220,000 $-60,000 55 Instructions: Round your answers to the nearest dollar. a. Total gross domestic product = $ million. GDP per person is $ b. Consumption, investment, government spending, and net exports each as a percentage of total GDP. (Note: Enter your answers in the table below.) c. Consumption, investment, government spending, and net exports per person. (Note: Enter your answers in the table below.) % of total GDP Per person ($) Consumption Investment Government spending Net exports
Which of the following is a problem with using real gross domestic product (GDP) as a measure of economic well-being? A. It does not account for inflation B. It does not account for production by foreign firms producing inside the domestic economy C. It does not account for the value of services produced in the economy D. It does not account for changes in purchasing power parity. E. It does not account for production within the household
U.S. real GDP is substantiality higher today than it was 60 years ago. What does this tell us, and what does it not tell us, about the well-being of U.S. residents.
Fill in the blank with the choices in parentheses While national income and domestic product must be equal, income must also equal expenditure for each of the six sectors in the circular flow diagram: firms, consumers, government, financial system, investors, and the “rest of the world.” For example, the amount of __________(options for blank: disposable income, investment spending, saving, taxes) flowing into the financial system sector must equal the amount of ____________ (saving, consumption plus savings, transfers plus government purchases, investment spending) flowing out of this sector.
Use the following to answer questions Item In trillions of Rs. GDP 17.6 Government purchases 1.9 Transfer payments 0.9 Exports 0.8 Imports 1.5 Net foreign factor income 05 Refer to the table above. The sum of private-sector investment and consumption in this economy is
Briefly discuss five reasons why a rise in real Gross Domestic Product within a country over time does not necessarily mean that living standards have improved.
Which of these is NOT part of GDP? Group of answer choices Consumer Spending Imports/Exports National Debt Reduction National Debt Reduction
Attached is a table, please use that to answer these: 1998 Gross Domestic Product Answer (Remember to show work): 2028 Personal Consumption Expenditures Answer (Remember to show work): 2008 Gross Private Domestic Investment Answer (Remember to show work):
Saved ring Output and Income Homework A The table below shows nominal GDP, exports, and imports for the United States. Nominal GDP, Exports, and Imports Imports (billions of dollars) Nominal GDP (billions of dollars) Exports (billions of dollars) Year $2,299.7 2,325.0 $2,745.9 2,866.8 ok 2015 $16,933.7 2016 17,549.8 nt Instructions: Round your answers to 1 decimal place. If you are entering a negatiw ences a. Calculate the value of net exports in 2015. $. billion b. Calculate the value of net exports in 2016. $4 billion
Answer the following questions from the given Table below which contains data for Saudi Arabia for the year 2022. c. What was the investment in Saudi Arabia in 2022?
1. Using the following table (hypothetical U.S. National Income and Product Accounts Data), choose the all the right statements. Category Consumption (personal consumption expenditures) Investment (gross private domestic investment) Government consumption (government expenditures) Exports Imports NFIA Net unilateral transfers I. II. IV. The GNE is 11,400 billion of dollars. The Current account is 805 billon of dollars. The Trade balance is -900 billion of dollars. The GDP is 10,550 billion of dollars. a. Only I b. I and III c. I and IV d. II and III e. I, III and IV Billions of dollars 8,000 1,300 2,100 900 1,750 +45 -20